TwentyCi Property & Homemover Report - Q3 2022

Welcome to the latest edition of the TwentyCi Property & Homemover Report, providing a comprehensive review of the UK property market, created from the most robust residential research and property change sources available.

Our report gives a real-time review of the UK housing market in Q3 2022, covering 99.6% of all sale and rental moves. This property market analysis and state of the nation report provides unique insight into the people behind the numbers, creating a picture of the demographic, regional and socio-economic factors impacting the UK housing market, including:

  • Factual data (not modelled or sentiment-based)
  • Full market coverage
  • Demographic overlay
  • Property sales data
  • Property rental data

UK Property Research Headlines – Q3 2022:

  • Homeowner property market adjustment anticipated
    In the home-owner property market, the widely anticipated recalibration in response to higher inflation and interest rates has not yet fed clearly into the results. We remain on track for 1.2 million transactions in 2022, as Q3 2022 Sales Agreed rose 8% against the same period in 2019. Meanwhile, the average property asking price in the UK has increased by 23% since 2019, driven by historical lows in sale property stock levels.
  • Early barometers of the anticipated reset
    There has been a sharp increase in Fallen Through transactions in the period as mortgage products are withdrawn, along with a slight easing of the property sale stock shortage, as households consider downsizing due to higher costs.
  • Hybrid/Online Agents continue to struggle in the higher value brackets
    The average market share increased slightly to 7.6%, but this is overwhelmingly in the lower value bands and outside of the Southeast.
  • The rental sector remains challenging
    In contrast to the owner-occupied sector, rental property supply has tightened significantly, where all regions are now down to c.1.5 months of stock. This reflects the reduced incentives and opportunities for landlords. This is compounded by households deferring decisions to become owner-occupiers. These constraints have served to increase the average rental price and depress transactions.
  • Mitigating the retail recession by focusing on homemovers
    As the economic headwinds start to bite, a retail recession now feels much more likely. Homemovers continue to be the most economically valuable consumer group. The opportunities at each stage of this group’s journey are outlined in our Homemover Wave (see p.9). With a further 1.2 million moves expected over the next 12 months, brands are well advised to adjust their marketing and focus accordingly. Our unique, data-driven service offers you the best way to keep up to date and we also publish regular updates and articles on our TwentyCi Insights Blog (see p.11).

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